Warren Buffett Steps Down as Berkshire Hathaway Chairman

Why it matters locally: While Warren Buffett has stepped down as chairman, his continued role in the company, a major Nebraska-based employer and economic force, ensures its significant impact on the state's economy and philanthropic landscape will remain central to its future.

Warren Buffett has vacated his position as chairman of Berkshire Hathaway. He served in the role for more than 50 years at the company, which holds an estimated value of $1 trillion.